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Unicredit to list 25-35 pct of Fineco online bank by end July-paper
April 28, 2014 / 6:36 AM / 3 years ago

Unicredit to list 25-35 pct of Fineco online bank by end July-paper

MILAN, April 28 (Reuters) - Unicredit, Italy’s biggest bank by assets, plans to sell between 25 and 35 percent of online banking unit Fineco on the stock market by the end of July, its chief executive said in a newspaper interview published on Monday.

“The aim is to introduce Fineco to people abroad, create value and re-invest a large part of the proceeds into growing the company,” Federico Ghizzoni told CorrierEconomia.

Sources told Reuters earlier in April that the bank was considering listing around 35 percent of the unit.

If the Fineco listing goes ahead in July, it could become the second public share sale by a financial company on Milan’s bourse this year, following asset manager Anima Holding . (Reporting by Isla Binnie; Editing by Mark Potter)

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